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Investing.com -- Shutterstock (NYSE:SSTK) stock rose 3.8% while Getty Images (NYSE:GETY) shares jumped 11.3% after Shutterstock stockholders approved the merger agreement between the two visual content companies.
Approximately 82% of Shutterstock’s issued and outstanding common shares voted in favor of the merger at a special stockholder meeting. The approval marks a significant milestone in combining the two companies to create what they describe as a "premier visual content company."
"We are very pleased that our stockholders recognize the compelling rationale of this transaction and look forward to the successful completion of our merger with Getty Images," said Paul Hennessy, Shutterstock’s Chief Executive Officer.
The companies stated that their complementary strengths would enhance their ability to serve customers while delivering value to partners, contributors, and stockholders in what they characterized as a "fast evolving and competitive environment."
The transaction is expected to close in the second half of 2025, pending regulatory approvals and other customary conditions. Upon completion, the combined entity aims to better meet customer needs through joint investments in content creation, event coverage, and product and technology innovation.
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